Loan Questions

Will my loan still accrue interest if I choose a deferment option?

Yes, during this time loans will still accrue interest regardless of deferment or not.

When can I expect a decision regarding my loan?

A decision regarding your loan application can take about 24 hours, however due to an increase in interest an extended decision period may occur.

How will I be notified regarding my loan?

All communication is done via email, however if more information is required, TFCU may reach out via phone if any additional information is needed.

When will approved loan money be credited to my TFCU account?

Loan money will be available within 24 hours of completing required loan documents.

Why is my decision taking longer than the expected time?

Due to the high demand with our emergency loans, our team is working very hard on expediting them as fast as possible. We are working to get you a decision as soon as possible, but ask you to please bear with us.

If I am declined will I be notified and how will I be notified?

If your loan is declined, you will receive a phone call from one of our Reps to go over the declined reasons. An adverse action letter is also sent via regular mail.

General Questions

Will cashier’s checks be available via drive thru services?

Yes, we will be able to provide and process cashier’s checks via drive thru services.

Are there direct phone numbers to contact TFCU branches?

At this time, we understand there may be a higher than expected wait time. To contact branches directly, please see our branches listings at the top of this page.

Can I make a wire transfer during this time?

Yes, wire transfers can be done online, over the phone or via drive thru services. If completing wire transfers online please fill out this form

If the IRS sent a stimulus check to someone who recently died what should the surviving account holder do with those funds?

We recommend directly contacting a tax advisor, accountant or IRS for further instruction on how to handle funds.

What do I do if my stimulus funds are being deposited into a closed account?

If your TFCU account is closed, we will reject the payment and send the funds back to the IRS. If an account is open, but no longer active the funds will be held in that account for your use. For more information on how to access those funds please visit the IRS website. (https://www.irs.gov/coronavirus/economic-impact-payment-information-center)

Can I transfer my stimulus funds to Tropical Financial from another intuition?

Yes, once your funds have been processed into your account at another institution, they can be transferred into a Tropical Financial account.

Mortgage Questions 

How is my credit affected?

Borrowers in a current status at the time of entering into a forbearance will continue to be reported as “current” to the credit bureaus. Borrowers in a delinquent status at the time of entering into a forbearance will continue to be reported as “delinquent” to the credit bureaus. If a delinquent borrower can cure their delinquency during the forbearance period then the loan will be reported as “current” to the credit bureaus.

Will I accrue late charges?

No. Late charges will be suppressed when borrower is under review for Forbearance or borrower is granted Forbearance

How does the Forbearance work?

No payments will be collected for the duration of the Forbearance. Upon completion of the Forbearance, the borrower may be required to submit a complete workout package to be reviewed for a more permanent solution to cure the delinquency.

How long does it take to receive the agreement once I have been approved?

It will take 5-7 days through the US Postal Service to receive the agreement.

Do I have to sign the agreement?

For all loan types, it is preferred to return the signed agreement but not required. The proxy address is lossmitproxy@yourmortgageonline.com

Do I have to pay anything?

The standard Forbearance agreement is a zero payment agreement.

Do I have to call TFCU every month or will I get collection calls?

No, we do not require contact within the first 60 days. After the 60 days we require contact to confirm current status. At this time, we will review your account for an extension if needed. If circumstances change at any time during the Forbearance period please contact DMI immediately to discuss. Collection calls will be suspended during the duration of the Forbearance.

What if I have an Automatic Payment Drafting (ACH) account?

Borrowers granted forbearance's will have their automatic payments suspended. When TFCU makes contact around the 60th day the borrowers will be asked if they would like to resume their automatic payments.